Wednesday, May 03, 2017

Dearness Allowance for Workmen and Officer Employees in banks for the months of May, June and July 2017

Indian Banks’ Association
HR & Industrial Relations

No.CIR/HR&IR/761D/2017-18/2625
April 29, 2017

All Members of the Association
(Designated Officers)

Dear Sirs,

Dearness Allowance for Workmen and Officer Employees in banks for the months of May, June and July 2017 under X BPS/ Joint Note dated 25.5.2015

The confirmed All India Average Consumer Price Index Numbers for Industrial Workers (Base 1960=100) for the quarter ended March 2017 are as follows:-
January 2017 - 6254.30
February 2017 - 6254.30
March 2017 - 6277.12
The average CPI of the above is 6261.91 and accordingly the number of DA slabs is 456 (6261.91-4440 = 1821.91/4= 456 slabs). The last quarterly payment of DA was at 469 slabs. Hence, there is a decrease in DA slabs of 13, i.e. 456 slabs for payment of DA for the quarter May, June and July 2017.

In terms of clause 7 of the 10th Bipartite Settlement dated 25.05.2015 and clause 3 of the Joint Note dated 25.05.2015, the rate of Dearness Allowance payable to workmen and officer employees for the months of May, June and July 2017 shall be 45.60 % of ‘pay’. While arriving at dearness allowance payable, decimals from third place may please be ignored.

Yours faithfully,

Sd/-
Chauhan

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